Wieland, Volker - Center for Financial Studies - 2008
embedded in these models, however, does not seem to be stable. For example,
Cespedes et al (2005) report evidence of structural … change during the late 1990s. This change
is exhibited in a higher weight of expected future inflation - and a … case, the last term in equation
(4) is modified to (1− κ)(1+βκ)−1(pi∗t − βpi∗t+1). They report evidence of structural …